Aakaar Medical Technologies Ltd. launched its initial public offering (IPO) on Friday to raise over Rs 27 crore from the primary market. The company manufactures devices and products used in the medical industry. Those who want to invest in the IPO can check the following details before bidding for the Aakaar Medical Technologies IPO.
Aakaar Medical Technologies IPO: Key Details
The Aakaar Medical Technologies IPO is a book-building issue worth Rs 27 crore. The SME issue comprises entirely a fresh issue of 37.5 lakh shares, without any offer-for-sale (OFS) component.
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The price band for the IPO has been set between Rs 68 and Rs 72 per share.
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Retail investors can bid for a single lot size of 1,600 shares, requiring a minimum investment of Rs 1,15,200. On the other hand, the High Net-Worth Individuals (HNIs) need to apply for at least two lots, or 3,200 shares, aggregating to a minimum investment of Rs 2,30,400.
The Aakaar Medical Technologies IPO will remain open for subscription till June 24. Share allotment status is expected to be finalised on June 25. Shares will be transferred to the Demat accounts of successful bidders on June 26. Refunds for non-allottees will also be processed on the same day.
The Aakaar Medical Technologies IPO listing has been tentatively scheduled for June 27. Shares of the company will be listed on the NSE SME platform, Emerge.
At least 35% of the net offer size is reserved for retail investors and a minimum of 15% of the net issue is set aside for Non-Institutional Investors (NIIs). The Qualified Institutional Buyers (QIBs) will be allocated a maximum of 50% of the net issue.
Indorient Financial Services Ltd. is the book-running lead manager of the Aakaar Medical Technologies IPO. Bigshare Services Pvt. is the registrar and Alacrity Securities Ltd. is the market maker for the issue.
Aakaar Medical Technologies IPO Subscription Status
*The subscription status will be updated soon
Aakaar Medical Technologies IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the IPO was nil as of 8:30 a.m. on June 20. The latest GMO indicates a potentially flat listing for the shares of Aakaar Medical Technologies.
Note: GMP does not represent official data and is based on speculation.
Aakaar Medical Technologies Business And Financials
The company manufactures devices and ointments, which are used for dermatological and aesthetic purposes. It is headquartered in Mumbai and was founded in 2013.
Use Of Proceeds
The company will use proceeds from the IPO to fund working capital requirements and general corporate purposes.
Financials
The company's profit after tax (PAT) rose 110.45% year-on-year (YoY) to Rs 6.04 crore in FY25 from Rs 2.87 crore in FY24. Revenue from operations increased 33.55% YoY to Rs 61.58 crore in FY25 from Rs 46.11 crore in FY24.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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